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Special MSME package can help 7 cr accounts, Rs 1 L cr loans, says FinSec

The RBI’s restructuring scheme for small businesses announced last month is expected to recast loans worth Rs 1 lakh crore for 7 lakh eligible micro, small and medium enterprises (MSMEs), Department of Financial Services (DFS) secretary, Rajiv Kumar said. The government estimate is higher than the Rs 10,000 crore estimate by domestic rating agency ICRA. The RBI had announced a one-time restructuring scheme to allow lenders to restructure loans of stressed MSMEs whose total fund and non-fund based exposure doesn’t exceed Rs 25 crore as on 1 January 2019. Also, the restructuring has to be implemented by 31 March 2020.

Read More at The Financial Express News date : 11 Feb 2019, Monday

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